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Family Loan – New Product

We are pleased to announce the launch of our new Family Loan product, which is designed to give families a bit of extra financial help when it is needed.

By transferring your Child Benefit payments into your Credit Union savings account, we can then give you an advance of up to £500.  The Child Benefit will be used to pay off the loan gradually, with the remainder being made available to you to either spend or save. 

  • • Fair – Easy to qualify: Affordability and other loan processing checks to ensure loan is fair.
  • Fast – Access your loan quickly: the loan is paid directly into your bank account the same day as your loan is approved
  • Fixed  Simple fixed interest rate: you will know exactly how much you’ll pay back each month and there are no set up or hidden fees 
  • Save as you borrow – build up savings pot with us. Any remaining Child Benefit after your monthly repayment will go into our Regular Savings Account for you to access when you need it 
  • Top up as you pay off – apply for a top up when you’ve repaid at least 50% of your loan plus you could qualify for a loan of up to £1,000  
  • Boost your credit score – meet your monthly repayments and it’ll help you build a positive credit score, unlocking your ability to borrow at lower rates in the future 
  • Qualify for our best rates – when you’ve paid off your first Family Loan, you could qualify for our Loyalty Loan, giving you cheaper rates of between 6.2%-34.5% APR

More details about the Family Loan may be found HERE

If you would like to join WASCU and apply for your first Family Loan now, please press HERE.